Hedge fund paying $4m per head hires JPMorgan MD in new New York office
Quadrature is a UK-based hedge fund paying more on average than most US ones; its staff earned £3m ($4m) on average in its most recent Companies House accounts. Now, it's set its sights on the US too, and with a New York office just about to open, it's brought in a quant veteran from investment banking.
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Heath Windcliff has joined Quadrature in New York, working in execution. He's spent the last four years at JPMorgan as its global head of electronic client solutions. For 16 years before that, he worked at Morgan Stanley, latterly serving as global head of quantitative research for equity algorithmic trading.
Finance wasn't always the aim for Windcliff; he says his original plan was to become an acoustics engineer. Nonetheless, he was redirected to quant finance upon completing his PhD in mathematics, first joining TD Securities.
He's not Quadrature's only hire in New York ahead of its office launch. In June, it hired Simon Thornington, formerly a vice president in low latency execution engineering at Two Sigma, as a quant dev. The month before, it hired ex-Citadel Securities HFT production engineering lead William Levine as a systems engineer.
Quadrature's New York home is the Puck Building, a historic building in which a lavish party was thrown in Bret Easton Ellis' 'American Psycho'. The firm is occupying part of a space just recently vacated by the University of New York. Quadrature's website says the new office is opening this Autumn.
Back in the UK, Quadrature has been hiring too. David Ressman has joined as a research systems engineer from HFT firm Optiver, where he was a linux systems engineer. Ressman also spent two and a half years at XTX Markets, and almost nine at Jump Trading.
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